Infosys Finacle, part of EdgeVerve Systems, the product subsidiary of Infosys, and Asia Green Development (AGD) Bank, a leading bank in Myanmar, announced the bank’s decision to adopt the Finacle Core Banking, Internet Banking, Mobile Banking, and financial ecosystem solutions. These would provide its customers a next-generation banking experience by enabling seamless transactions, regardless of the channel, the location and the time. Powered by the Finacle suite of solutions, AGD Bank aims to expand its client base, while significantly enhancing productivity and profitability.
• The Finacle platform will enable a transformational change at the bank by eliminating various manual processes, enhancing productivity, reducing errors, and ensuring 24X7 operations. This will further strengthen the bank’s position vis-à-vis its peers;
• Finacle will also help the bank overcome the challenges associated with a legacy distributed system, which made it impossible to review clients’ holdings in a consolidated manner. The new implementation will provide the bank a 360-degree view of customer relationships and transactions;
• The built-in analytics capability will help the bank understand customer preferences better and thereby offer personalized products and services;
• Finacle’s proven scalability will allow AGD Bank to seamlessly and easily expand scale of operations with growth.
Andy Dey, President - Customer and Operations, EdgeVerve:
"The banking industry in Myanmar is witnessing a renewed growth and banks are showing a strong appetite for expansion. A modern banking technology platform is critical to drive growth for Myanmar banks at this stage. With the Finacle suite of solutions, AGD Bank will be able to integrate various channels, effortlessly develop and launch new offerings, create new lines of revenue, and work with greater efficiencies, which is in line with the bank’s long-term growth.”
Htoo Htet Tay Za, Managing Director, Asia Green Development Bank:
“At Asia Green Development Bank, our endeavor is to help our clients fulfill their needs by delivering an excellent banking experience. We believe that the adoption of the Finacle family of solutions will support us in achieving our goal of delivering just that.”
About AGD Bank
Asia Green Development Bank Limited (AGD Bank) opened its head office and first branch successfully on August 2010 in Nay Pyi Taw.
Today, AGD Bank (agdbank.com) has 53 branches throughout Myanmar and operates in Corporate, Retail, and International Banking while delivering banking excellence through inspired and outstanding customer service, offering innovative products and services that meets clients’ requirements.
AGD Bank’s vision is to provide the vitally important banking infrastructure that will make a lasting and sustainable impact on this future, building the economic foundations for a progressive Myanmar.
About Infosys Finacle
Finacle (finacle.com) is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned subsidiary of Infosys. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. Today, Finacle is the choice of banks across 84 countries and serves over 547 million customers nearly 16.5 percent of the world’s adult banked population.
Finacle solutions address the core banking, e-banking, mobile banking, CRM, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 world banks reveals that banks powered by Finacle enjoy 50 percent higher returns on assets, 30 percent higher returns on capital, and 8.1 percent points lesser costs to income than others.
About EdgeVerve Systems Ltd
EdgeVerve Systems (edgeverve.com), a wholly owned subsidiary of Infosys, develops innovative software products and offers them on premise or as cloud-hosted business platforms. Our products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. We power our clients’ growth in rapidly evolving areas like banking, digital marketing, interactive commerce, distributive trade, credit servicing, customer service and enterprise buying.
Today EdgeVerve products are used by global corporations across financial services, insurance, retail and CPG, life sciences, manufacturing, and telecom. Finacle, our universal banking solution, is the choice of financial institutions across 84 countries and serves over 547 million customers nearly 16.5 percent of the world’s adult banked population.
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Paul de Lara - Infosys, UK
P: +44(0)20 7516 2748 - E: Paul_deLara[.]infosys.com.
Pilar Elvira Wolfsteller - Infosys, USA
P: +1 510-944-4596 - E: Pilar.Wolfsteller[.]infosys.com.